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Guideline Value

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Guideline Value for Prakash Nagar 5th Cross Street (Ward 23)

₹2700/sq.ft.

The guideline value for Prakash Nagar 5th Cross Street (ward 23) in Madhavaram village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. The land classification is Residential Special Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madhavaram

Village

Madhavaram

SRO

Residential Special Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Prakash Nagar 5th Cross Street (ward 23)

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Prakash Nagar 5th Cross Street (Ward 23) guideline value

The current guideline value of Prakash Nagar 5th Cross Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO, classified as Residential Special Type - I.

How the guideline value of Prakash Nagar 5th Cross Street (Ward 23) has changed

The guideline value for Prakash Nagar 5th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. This marked a decline of 33%. However, the most recent 2024 revision has increased the value to Rs 2,700 per sq.ft, representing a significant increase of 61% from the 2017 figure.

Overall, comparing the 2012 revision to the current 2024 value, there has been a slight increase of 8%. It is important to note that for the years 2023, 2007, 2003, and 2002, the register has no figure for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Prakash Nagar 5th Cross Street at Rs 2,700 per sq.ft is above this median.

Stamp duty and registration fee for property in Prakash Nagar 5th Cross Street (Ward 23)

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations based on your property details.

Which Sub Registrar Office covers Prakash Nagar 5th Cross Street (Ward 23)?

The Sub Registrar Office that covers Prakash Nagar 5th Cross Street (Ward 23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your specific SRO, you can visit find your SRO.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor in the property registration process in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Prakash Nagar 5th Cross Street (Ward 23)?

The current guideline value of Prakash Nagar 5th Cross Street (Ward 23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,700 per sq.ft in 2024.

What is the land classification for Prakash Nagar 5th Cross Street?

Prakash Nagar 5th Cross Street is classified as Residential Special Type - I under the Madhavaram SRO.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The rates are typically 7% for stamp duty and 2% for the registration fee.